Austria’s Telecom Service Provider A1 Starts Accepting Cryptocurrency Payments
With the global crypto usage and demand, big organizations have started considering cryptocurrency payments against their products and services. In an official announcement Austrian mobile carrier A1 announced accepting crypto payments at is stores.
A! has specified that it will be accepting a few selected digital currencies like Bitcoin, Litecoin, Dash, Ethereum, Ripple, and Stellar. Besides, A1 is currently running a pilot project to demonstrate that integrating crypto payments methods in your routine businesses is not a mammoth task.
In the official announcement, A1 has also specified seven different store locations across Austria where it will be accepting crypto payments.
"Paying with digital currencies is becoming more and more prevalent internationally, and every industry is affected. With our pilot operation in the A1 shops we are testing the demand and acceptance of digital currencies in Austria,” says Markus Schreiber, Head of A1 Business Marketing.
The telecom giant said that they will accept crypto payments through the A1 Payment Service, a digital payment system that A1 developed in collaboration with financial partners like Salamantex, Ingenico and Concardis.
Moreover, A1 very well understands the risk of having a crypto payments systems within its routine operations. Thus, by working with its partners, the telecom giant will develop a robust infrastructure which can absorb the price fluctuations in the volatile crypto market.
"As a pioneer, A1 assumes a great responsibility with regard to the digitization of our society," explains Schreiber. "The safety of consumers and trade, as well as compliance with all legal requirements and provisions have top priority. Before the A1 Payment portfolio will be expanded by digital currencies and officially available to business customers, a multi-stage trial will now be carried out, starting with selected A1 shops “.
Note that A1 is not the first big company to take this bold step of accepting crypto payments. Use of cryptocurrencies is getting increasing popular in countries with fragile economic scenario, especially the Latin American countries like Brazil, Argentina, etc.
Recently, the Brazilian city of Fortaleza announced accepting Bitcoin payments for the city’s transportation system. The city’s autonomous ticketing app will see the support for Bitcoin payments by the end of this year.
Moreover, with the growing regulatory clarity the participation by global investors in the crypto market is expected to rise further.